Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

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The schoolkids bonus will also stay in place until December 31, 2016, but will be means tested so that only families earning up to $100,000 will qualify.

Mr Hockey said given that increases in the superannuation guarantee were largely funded from cuts in take-home wages or business profits, the changes would put more money in employees' pockets and help business.

PUP leader Clive Palmer said the economy would be boosted by the mining tax's abolition.